The year 1988 · in the United States and the world

What happened in 1988

The cost of living, the songs at #1, the news and the people in charge in 1988, rebuilt from public records. Born that year? Your exact day has its own story.

Gallon of gas

95¢

$4.48 today

President

Ronald Reagan

Biggest #1

“Roll With It”

Steve Winwood

$1 then is

$2.84

in today’s money

01 · Cost of living

How much things cost in 1988

U.S. average prices for 1988, next to the latest official figure (Sep 2026). By the Consumer Price Index, $1 in 1988 buys what $2.84 buys today.

GENERAL STORE

U.S. AVERAGE PRICES · 1988

ITEM1988TODAYGallon of gasregular unleaded95¢$4.48Loaf of white breadper lb61¢$1.83Gallon of milkwhole—$4.11Dozen eggsgrade A large79¢$2.27Pound of coffeeground roast$2.77$9.33Postage stampfirst-class letter25¢78¢Median new homeUS sale price$112,225$393,300Minimum wagefederal, per hour$3.35$7.25

GALLON OF GAS COSTS 4.7× WHAT IT DID

Yearly averages · wage and stamp on July 1
— = no official series for 1988 yet

Gas: drivers paid 95¢ for a gallon of regular in 1988. Filling a 15-gallon tank cost about $14.19, against roughly $67.23 now.

Groceries: one hour at the federal minimum wage ($3.35) bought about 5 pounds of white bread in 1988. Today it buys about 3.

Housing: the median new home sold for $112,225, or about 16 years of full-time work at the minimum wage. Today the median is $393,300.

Mail: a first-class stamp cost 25¢ (the rate changed in 1988: 25¢ from April 3, 1988). It is 78¢ now.

Stocks: the S&P 500 now stands about 29× its average level in 1988 (price only, before dividends and inflation).

Not yet tracked in 1988: gallon of milk (official averages start in 1996). We leave these blank rather than guess.

Sources: U.S. Bureau of Labor Statistics average prices, Census Bureau and Department of Labor viaFRED; USPS rate history; S&P from Robert Shiller’s public data.

02 · On the radio

The #1 songs of 1988

33 songs reached the top of the Billboard Hot 100 in 1988. The one that stayed longest:

“Roll With It”

Steve Winwood · 4 weeks at #1 in 1988

Tap the cover for a 30-second preview

  1. Jan 2FaithGeorge Michael1 wk
  2. Jan 9So EmotionalWhitney Houston1 wk
  3. Jan 16Got My Mind Set On YouGeorge Harrison1 wk
  4. Jan 23The Way You Make Me FeelMichael Jackson1 wk
  5. Jan 30Need You TonightINXS1 wk
  6. Feb 6Could've BeenTiffany2 wks
  7. Feb 20Seasons ChangeExpose1 wk
  8. Feb 27Father FigureGeorge Michael2 wks
  9. Mar 12Never Gonna Give You UpRick Astley2 wks
  10. Mar 26Man In The MirrorMichael Jackson2 wks
  11. Apr 9Get Outta My Dreams, Get Into My CarBilly Ocean2 wks
  12. Apr 23Where Do Broken Hearts GoWhitney Houston2 wks
  13. May 7Wishing WellTerence Trent D'Arby1 wk
  14. May 14Anything For YouGloria Estefan & Miami Sound Machine2 wks
  15. May 28One More TryGeorge Michael3 wks
  16. Jun 18Together ForeverRick Astley1 wk
  17. Jun 25Foolish BeatDebbie Gibson1 wk
  18. Jul 2Dirty DianaMichael Jackson1 wk
  19. Jul 9The FlameCheap Trick2 wks
  20. Jul 23Hold On To The NightsRichard Marx1 wk
  21. Jul 30Roll With ItSteve Winwood4 wks
  22. Aug 27MonkeyGeorge Michael2 wks
  23. Sep 10Sweet Child O' MineGuns N' Roses2 wks
  24. Sep 24Don't Worry, Be Happy (From "Cocktail")Bobby McFerrin2 wks
  25. Oct 8Love BitesDef Leppard1 wk
  26. Oct 15Red Red WineUB401 wk
  27. Oct 22Groovy Kind Of LovePhil Collins2 wks
  28. Nov 5Kokomo (From"Cocktail" )The Beach Boys1 wk
  29. Nov 12Wild, Wild WestThe Escape Club1 wk
  30. Nov 19Bad MedicineBon Jovi2 wks
  31. Dec 3Baby, I Love Your Way/Freebird MedleyWill To Power1 wk
  32. Dec 10Look AwayChicago2 wks
  33. Dec 24Every Rose Has Its ThornPoison2 wks

Dates are the first chart week at #1 in 1988; weeks count only those in 1988.Find the #1 song on your birthday →

Your day, not just your year

Born in 1988? Meet your day.

The weather in your city, the moon over it and the song on the radio the day you arrived in 1988.

See your exact day →

The weather, the sky and the #1 song from that exact day, in your city

03 · The news

Major events of 1988

Moments from 1988 that are still remembered, in date order.

  1. Jun 1The Intermediate-Range Nuclear Forces Treaty was ratified, banning all American and Soviet land-based missiles with a range of 500 to 5,500 km (310 to 3,420 mi).
  2. Jun 4Three cars on a train carrying hexogen to Kazakhstan explode in Arzamas, Gorky Oblast, USSR, killing 91 and injuring about 1,500.
  3. Jul 3The US Navy warship Vincennes shot down Iran Air Flight 655 over the Persian Gulf, killing all 290 people aboard.
  4. Jul 6The Piper Alpha drilling platform in the North Sea is destroyed by explosions and fires. One hundred sixty-seven oil workers are killed, making it the world's worst offshore oil disaster in terms of direct loss of life.
  5. Aug 20Iran–Iraq War: A ceasefire is agreed after almost eight years of war.
  6. Aug 20More than 150,000 acres (610 km2) were burned on the worst day of the largest wildfire in the recorded history of Yellowstone National Park in the United States.
  7. Oct 5During the United States vice-presidential debate, Democratic candidate Lloyd Bentsen told his opponent Dan Quayle, "Senator, you're no Jack Kennedy."
  8. Nov 2The Morris worm, the first Internet-distributed computer worm to gain significant mainstream media attention, is launched from MIT.
  9. Nov 8U.S. Vice President George H. W. Bush is elected as the 41st president.
  10. Nov 15The Soviet spacecraft Buran, a reusable vehicle built in response to NASA's Space Shuttle program, was launched, uncrewed, on its only flight.
  11. Nov 16In the first open election in more than a decade, voters in Pakistan elect populist candidate Benazir Bhutto to be Prime Minister of Pakistan.
  12. Nov 22The B-2 Spirit stealth bomber of the United States Air Force was first displayed in public at Air Force Plant 42 in Palmdale, California.
  13. Dec 1Benazir Bhutto, is named as the Prime Minister of Pakistan, becoming the first female leader to lead a Muslim nation.
  14. Dec 2Benazir Bhutto took office as Prime Minister of Pakistan, becoming the first woman to head the government of a Muslim-majority state.

Event summaries from Wikipedia’s “On this day”, CC BY-SA 4.0. Each links to its article.

04 · Who was in charge

The president and world leaders in 1988

  • U.S. President

    Ronald Reagan

  • UK Prime Minister

    Margaret Thatcher

  • Prime Minister of Canada

    Brian Mulroney

  • President of France

    François Mitterrand

  • German Chancellor

    Helmut Kohl

  • Prime Minister of Japan

    Noboru Takeshita

  • Soviet leader

    Mikhail Gorbachev

Everyone who held the office at some point in 1988, from Wikidata.

05 · At the movies and on TV

Films and TV of 1988

Best Picture at the 1988 Oscars

The Last Emperor

honouring films of 1987

The 1988 film that won next spring

Rain Man

Best Picture at the 1989 Oscars

American films released

  • Oliver & Company
  • Die Hard
  • Rain Man
  • Who Framed Roger Rabbit
  • Rambo III
  • Beetlejuice

New on American TV

  • Roseanne
  • Police Academy
  • Garfield and Friends
  • The Wonder Years

A selection of the best-documented titles on Wikidata, by first release year; not a box-office ranking.

06 · Born in 1988

Famous people born in 1988

Anyone born in 1988 belongs to the Millennials (1981–1996).

From Wikipedia’s “On this day”, CC BY-SA 4.0.

Quick answers

Quick answers about 1988

How much was gas in 1988?

A gallon of regular unleaded gas cost 95¢ on average in 1988, according to the U.S. Bureau of Labor Statistics. The latest national average is $4.48 (Sep 2026), about 4.7× as much.

What was the #1 song of 1988?

“Roll With It” by Steve Winwood spent the most weeks at #1 on the Billboard Hot 100 in 1988: 4 weeks. 33 different songs reached #1 that year.

Who was president in 1988?

Ronald Reagan was President of the United States for all of 1988.

How much is $1 from 1988 worth today?

Prices have risen about 2.8× since 1988, so $1 then buys what about $2.84 buys today, by the Consumer Price Index (Sep 2026). A first-class stamp cost 25¢ in 1988.

Your day, not just your year

1988 was the year. Which day was yours?

Pick your birthday and city. We’ll rebuild that day: the weather outside, the sky overhead, the song on the radio and what a dollar bought.

See your exact day →

The weather, the sky and the #1 song from that exact day, in your city